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Author: Immigration Specialist

Royal Thai Consulate > Articles by: Immigration Specialist

Thai Limited Company Registration

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Before establishing a company in Thailand, you must prepare the Memorandum of Association and call a statutory meeting. This will allow the company to define its objectives, capital, and shareholders. It is also important to note that some business activities have restrictions on foreign ownership.

A Thai Limited Company must have a minimum registered capital of 2 million baht. In addition, it must adhere to accounting and auditing procedures.

Company name reservation

A company name is a crucial part of the registration process, and choosing the right one can help you establish your brand identity and build trust with customers. It can also protect your intellectual property rights and prevent potential disputes with other companies.

In order to reserve a company name, you must submit an application with the Department of Business Development (DBD). The DBD will review the name and ensure it is unique and complies with their guidelines. It may take a few days for the department to reserve the name.

After the name is reserved, you must prepare a Memorandum of Association and Articles of Association (AOA). You will also need to deposit the capital required by the DBD. Once your documents are ready, you can open a corporate bank account and begin operating your business.

Memorandum of Association

A memorandum of association (MoA) is an official document that sets out a company’s objectives, authorized capital, shareholders, and other relevant details. It is an essential step in forming a limited company. The MoA is distinct from the Articles of Association, which outlines how a company is run.

We can help you draft a comprehensive and thorough MoA and complete all required paperwork for your business to be registered in Thailand. We can also assist you with obtaining any sector-specific licenses that your company may need to operate in the country. Contact us to schedule a free consultation, and we’ll walk you through the process of setting up your company in Thailand.

Shareholders

During the process of forming a Thai limited company, the initial promoters of the business must register themselves as shareholders. This ensures that their liability is limited to the amount of money they invested in the company. It also helps in ensuring compliance with accounting procedures.

It is recommended that at least three shareholders be registered for the company. These must be natural persons. Foreigners may hold up to 49% of the company’s shares. However, certain industries have restrictions or require special permissions for foreign ownership.

The company must prepare and submit financial statements every year. Failure to comply with these requirements can result in a Baht 50K fine. It must also issue share certificates to its shareholders and maintain a book of register.

Directors

Directors of a Thailand limited company are responsible for the management of the business. They are also liable to the extent of their shares. The most popular form of business in Thailand is the private limited company. This business structure is popular among foreign investors as it offers separation between ownership and management. However, the majority of the company shares must be held by a Thai citizen. Foreigners can also set up a BOI certified company if their activities fall within the scope of BOI promotion.

It is important to note that the registered office must be located in Thailand. The address must be registered and permission must be obtained from the property owner. The company must also submit financial statements and comply with tax regulations. It must also have an official stamp to sign documents.

Company registration

Company registration is one of the most important steps for foreign investors planning to set up a business in Thailand. However, it is a complicated process that requires careful preparation and consideration. It is best to have a service provider like Acclime handle the entire process for you to avoid any hassles.

Choosing the right name for the company is crucial. It must be unique and not resemble any other registered names in Thailand. In addition, the name must end with “Limited.” Name reservation can be done online and is usually approved within a few days.

The next step is preparing the Memorandum of Association and calling a Statutory Meeting. The MOA must outline the objectives, capital, shareholders, and directors of the company. It must also list any form of contracts entered into by the company.

Thai Will and Succession

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A Thai Will is a legal document that expresses your decision as to who should inherit your wealth. Without a Will the law decides this and it is very possible that your property will end up with family members that you have not wished to give anything to.

A legal Will must be in writing dated at the time of making and signed by you (the testator) before two witnesses.LegalityA Thai will allows you to choose your legal heirs and outlines your wishes on how your estate should be distributed. Without a will the law will determine this and it could mean that part of your estate ends up with people you would not have wanted to receive anything.Under Thai inheritance law the surviving spouse qualifies as a statutory heir (section 1635 of the Civil and Commercial Code) and inherits a minimum of one-half of the deceased’s property (unless there is a prenuptial agreement). The remainder of the estate will be divided among the statutory heirs in class 1, 2, 3, 4, 5, or 6 which include children, parents, brothers and sisters by full blood, half-brothers and half-sisters, grandparents and aunts and uncles.A lawyer will prepare the application for probate or administration of an estate which involves sending legal notices to all parties involved in the case. The lawyer will also help with any documentation required such as a death certificate, proof of ID and a list of all assets owned in Thailand including real estate, shares, bank accounts, etc.ExecutionA Thai Will must be written in ink and signed by the testator and two witnesses. The testator must be at least 15 years old. A will made by a minor is rendered void. However, a testator can make an oral will when no witnesses are available.A well-drafted Thai Will minimises difficulties and expenses after your death. It is also an important document to help you decide how your assets will be allocated to family members.If you die without a will, it is known as dying intestate. In this case, your estate will be distributed according to Thailand law on inheritance. This could result in legal disputes between your family members.Moreover, the process of inheritance in Thailand can be time-consuming for heirs who live overseas. For example, it can take up to several months for an heir to get the final decision from a court in Thailand. In addition, inheritance taxes must be paid, which can add up to a significant amount.ProbateWhen a foreigner dies in Thailand and they own assets here their family will hire a Thai lawyer to initiate a probate proceeding. This process is intended to project the wishes of the deceased in accordance with Thai laws and ensure that their assets are properly allocated among their legal heirs in a timely manner.The first step of estate administration is to verify the deceased’s property assets, disburse any debts, and obtain a probate order from the court. In the event that there is no Will or the Will is invalid, the court will determine beneficiaries and allocate property according to the six classes of statutory heirs stipulated in Book VI of the Civil and Commercial Code.In order to avoid delays and unnecessary expenses it is advisable that all persons owning assets in Thailand draw up a Will, even those who are not concerned about passing on their property to others. A Will allows a person to control their estate in accordance with their wishes and also prevents potential quarrels between relatives.

Notary Public in Thailand

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Notary Public in Thailand. In the realm of legal and business transactions, the role of a Notary Public is pivotal in ensuring the authenticity and legality of documents. Thailand, a hub for international business and commerce, has its own system of Notary Public services, playing a crucial role in certifying and validating various legal documents. This article explores the significance, functions, and the process of notarization in Thailand.

I. Understanding the Notary Public in Thailand

A. Definition:

  1. A Notary Public in Thailand is a qualified legal professional authorized to authenticate documents, administer oaths, and witness signatures.
  2. Notaries in Thailand play a crucial role in verifying the legitimacy of documents for use both domestically and internationally.

B. Appointment and Authority:

  1. Notaries in Thailand are appointed by the Ministry of Justice and operate under the authority of the Ministry.
  2. Their authority extends to witnessing signatures, certifying copies of documents, and administering oaths or affirmations.

II. Functions of Notary Public in Thailand

A. Witnessing Signatures:

  1. Notaries witness the signing of documents, verifying the identity of the signatory.
  2. This function is crucial for legal documents, contracts, and affidavits.

B. Certifying Copies:

  1. Notaries can certify copies of original documents, affirming that they are true and accurate reproductions.
  2. This is often required for academic transcripts, passports, and other vital records.

C. Administering Oaths and Affirmations:

  1. Notaries administer oaths or affirmations to individuals making sworn statements.
  2. This is common in affidavits, statutory declarations, and legal affirmations.

D. Notarization for International Use:

  1. Notaries in Thailand often notarize documents intended for use in international transactions.
  2. This includes documents for business transactions, real estate deals, and legal proceedings.

III. The Notarization Process in Thailand

A. Document Preparation:

  1. Ensure all documents are prepared and reviewed before seeking notarization.
  2. Documents must be clear, complete, and in compliance with Thai legal standards.

B. Personal Appearance:

  1. The individual seeking notarization must appear in person before the Notary Public.
  2. This is to verify the identity of the person and witness the signing of documents.

C. Verification of Identity:

  1. The Notary Public verifies the identity of the person signing the document through government-issued identification.
  2. This is a crucial step to prevent fraud and ensure the authenticity of the signature.

D. Notarial Certificate:

  1. After the document is signed, the Notary Public attaches a notarial certificate, affirming the authenticity of the signature.
  2. The certificate includes the Notary’s seal, signature, and relevant details.

E. Record Keeping:

  1. The Notary Public maintains a record of the notarized documents.
  2. These records are kept for a specified period and can be used for verification purposes.

IV. Importance of Notarization in International Transactions

A. Acceptance in Foreign Jurisdictions:

  1. Notarized documents are widely accepted in foreign jurisdictions.
  2. This is crucial for international business, legal proceedings, and cross-border transactions.

B. Legalization and Apostille:

  1. Notarization is often a prerequisite for further processes like legalization or obtaining an Apostille for international use.
  2. These additional steps ensure the document’s validity in other countries.

V. Conclusion

In Thailand, the role of the Notary Public is fundamental in upholding the integrity of legal documents and facilitating smooth international transactions. Whether for business agreements, real estate transactions, or legal affirmations, notarization adds a layer of authenticity that is recognized and respected globally. Understanding the functions and the process of notarization is essential for individuals and businesses engaged in cross-border activities, ensuring the legality and acceptance of their documents in the international arena.

Power of Attorney in Thailand

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In the intricate landscape of legal and business dealings, the Power of Attorney (PoA) emerges as a valuable legal instrument, granting an individual the authority to act on behalf of another. Thailand, with its dynamic business environment and international engagements, recognizes and regulates the use of Power of Attorney. This article navigates through the nuances of Power of Attorney in Thailand, elucidating its significance, types, and the process of execution.

I. Understanding Power of Attorney in Thailand

A. Definition:

  1. Power of Attorney is a legal document that authorizes an individual, known as the “agent” or “attorney-in-fact,” to act on behalf of another person, the “principal.”
  2. The authority granted can be broad or specific, and it may be temporary or enduring.

B. Importance in Legal Transactions:

  1. Power of Attorney is a crucial tool for facilitating various legal and business transactions, especially when the principal cannot be physically present.

C. Types of Power of Attorney in Thailand:

  1. General Power of Attorney: Grants broad powers to the agent, allowing them to perform a range of actions on behalf of the principal.
  2. Specific Power of Attorney: Limits the agent’s authority to specific actions or transactions defined in the document.
  3. Limited or Special Power of Attorney: Grants the agent authority for a specific purpose and a limited time frame.
  4. Durable Power of Attorney: Remains valid even if the principal becomes incapacitated.
  5. Non-Durable or Ordinary Power of Attorney: Becomes invalid if the principal becomes incapacitated.

II. The Power of Attorney Process in Thailand

A. Drafting the Document:

  1. The principal or their legal representative must draft the Power of Attorney document.
  2. The document must clearly specify the powers granted, the scope of authority, and any limitations.

B. Choosing the Agent:

  1. The principal selects a trustworthy individual to act as their agent.
  2. The agent should be someone with the capability to fulfill the responsibilities outlined in the Power of Attorney.

C. Notarization and Certification:

  1. The Power of Attorney document must be notarized by a Notary Public in Thailand.
  2. Notarization ensures the authenticity of the document and is often required for legal recognition.

D. Translation (if applicable):

  1. If the Power of Attorney is drafted in a language other than Thai, it may need to be translated into Thai.
  2. The translated document should be attached to the original for legal validity.

E. Legalization (if applicable):

  1. For international use, the Power of Attorney may need to be legalized by the Ministry of Foreign Affairs or obtain an Apostille.
  2. Legalization ensures the document’s recognition in other jurisdictions.

F. Registration (if applicable):

  1. Certain types of Power of Attorney, especially those related to real estate transactions, may need to be registered with the local Land Office.
  2. Registration adds an additional layer of legal validity.

III. Uses of Power of Attorney in Thailand

A. Real Estate Transactions:

  1. Facilitating the purchase or sale of property on behalf of the principal.
  2. Signing contracts, obtaining permits, and handling related transactions.

B. Financial Matters:

  1. Managing bank accounts, conducting financial transactions, and handling investments.
  2. Dealing with tax matters and filing on behalf of the principal.

C. Legal Representation:

  1. Representing the principal in legal proceedings, litigation, or negotiations.
  2. Signing legal documents and agreements on behalf of the principal.

D. Business Transactions:

  1. Acting on behalf of the principal in business negotiations, partnerships, or contractual agreements.
  2. Handling corporate matters, signing contracts, and making business decisions.

IV. Conclusion

Power of Attorney in Thailand is a powerful legal tool that empowers individuals to navigate legal, financial, and business matters efficiently. Understanding the types, process, and uses of Power of Attorney is crucial for individuals and businesses engaged in diverse transactions. Whether facilitating real estate deals, managing financial affairs, or representing someone in legal matters, a well-executed Power of Attorney ensures that actions are taken with the legal authority and consent of the principal. It stands as a testament to the legal sophistication of Thailand, providing a framework for secure and effective delegation of authority in various aspects of life and business.

Thailand Visa Exemptions

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Thailand Visa Exemptions. Renowned for its captivating culture, breathtaking landscapes, and warm hospitality, has long been a favored destination for travelers worldwide. One of the reasons behind its popularity is the availability of visa exemptions for citizens of various countries. These visa exemptions grant visitors the freedom to explore Thailand for a limited period without the need for a visa. In this article, we delve into the visa exemptions in Thailand and highlight the benefits they offer to tourists.

  1. Visa Exemption Categories: Thailand offers visa exemptions to visitors falling under different categories. The most common ones include:

a. Tourist Visa Exemption: Under this category, citizens of many countries are allowed to enter Thailand for tourism purposes without obtaining a visa in advance. They are granted a 30-day stay, which can be extended by an additional 30 days at the discretion of the Thai immigration authorities.

b. Visa Exemption for ASEAN Countries: Citizens of fellow member states of the Association of Southeast Asian Nations (ASEAN) enjoy even more lenient visa regulations. They are granted a visa-free stay of up to 30 days for tourism or business purposes.

c. Bilateral Agreements: Thailand has signed bilateral agreements with certain countries, allowing their citizens to enter Thailand without a visa for varying durations. These agreements often extend beyond tourism and include purposes such as business, education, medical treatment, and more.

  1. The Convenience of Visa Exemptions: The visa exemptions in Thailand provide several advantages to tourists:

a. Easy Access: Travelers can explore the wonders of Thailand without undergoing the lengthy visa application process. This convenience saves time, effort, and additional expenses associated with visa procurement.

b. Flexibility: The visa exemptions allow visitors to plan their trip on shorter notice, as they can enter Thailand without prior visa approval. It offers greater flexibility for spontaneous travel arrangements and impromptu itineraries.

c. Cost Savings: Avoiding visa fees and related expenses can significantly reduce the overall cost of a trip. With visa exemptions, travelers can allocate their funds towards experiencing Thailand’s rich cultural heritage, indulging in local cuisine, or enjoying adventurous activities.

  1. Extending Your Stay: While the initial visa-free period is typically 30 days, visitors can extend their stay by an additional 30 days at the immigration office in Thailand. This flexibility enables travelers to immerse themselves in the country’s unique charm, delve deeper into its hidden gems, or even pursue volunteer opportunities.

It’s important to note that overstaying the visa exemption period is strictly prohibited. Violators may face fines, deportation, or other legal consequences. To avoid such issues, travelers must adhere to the stipulated duration and explore options for extensions if necessary.

  1. Upcoming Changes and Requirements: Thailand constantly reviews and updates its visa policies to ensure security and facilitate tourism. It’s advisable to stay updated with the latest regulations and requirements before planning a visit. Changes may include new agreements with countries, adjustments in visa-free periods, or the introduction of electronic travel authorization systems.

Conclusion: Thailand’s visa exemptions open the doors to an unforgettable experience in the Land of Smiles. The ease of access, flexibility, and cost savings make it an attractive destination for travelers from various corners of the globe. However, it is essential to stay informed about the latest updates and adhere to the rules and regulations set by the Thai authorities to ensure a hassle-free visit. So pack your bags, immerse yourself in Thailand’s vibrant culture, and embark on an incredible journey of discovery.

Thai Retirement Visa

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The Non-Immigrant O-A Visa, often known as the Thai Retirement Visa, is a long-term visa option for people who want to retire in Thailand. The following are the main specifics of the Thai Retirement Visa:

  1. Eligibility: You must satisfy the following requirements in order to be eligible for a Thai retirement visa:

a. Age: At least 50 years of age is required.

b. You must satisfy the financial requirements, which often involve keeping a certain amount of money in a Thai bank account or a mix of money and income.

  1. Application Methodology:

a. Application from Outside Thailand: You must submit your application to the Thai embassy or consulate in your country of residence if you are applying from outside Thailand. It is best to get in touch with the embassy or consulate directly to learn about the application process and necessary paperwork since the precise requirements could differ.

b. Applying inside Thailand: If you are already in Thailand on another sort of visa, you can submit an application for a retirement visa at an immigration office there. The procedure normally entails providing the necessary paperwork and filling out the application forms.

  1. documentation needed: The following are just a few examples of the documentation needed to apply for a Thai retirement visa:

a. a passport with at least six more months of validity.

b. filled out applications for visas.

c. passport-sized images.

d. a recent three-month-old medical certificate.

e. As evidence that you have the necessary funds or a combination of funds and income, you might provide a bank statement.

  1. The initial Thai retirement visa is often issued for a period of one year, with the option to renew it. If the applicant continues to meet the requirements and submits the necessary paperwork, the visa may be renewed each year after the first.
  2. Holders of retirement visas must declare their current address to the neighborhood immigration office every 90 days.
  3. Thai retirement visa holders are prohibited from working in Thailand. Any type of employment or commercial activity would call for a different visa or work permit.

The Thai Immigration Bureau or the Royal Thai Embassy or Consulate in your country can provide you with the most current and accurate information regarding the Thai Retirement Visa application process. It’s important to keep in mind that visa requirements and procedures can change.

Getting a Work Permit in Thailand

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As a foreigner living and working in Thailand, you need a work permit to legally perform your job. You can get this document from the Ministry of Labour if you have a legitimate job in Thailand and meet some minimum requirements. The document can be renewed if it expires, but you need to apply for this extension with your visa.

A work permit can be issued for 1 year and can be extended as long as you continue to meet the required qualifications. The document can also be granted for a longer period of time in certain cases, such as for Representative offices and for companies with registered capital of over 30 million baht.

Getting a work permit in Thailand is not a simple process and requires professional help to ensure you have everything needed. At Sunbelt Asia, we provide assistance to our clients on all aspects of the application and paperwork.

The first step is to get a non-immigrant visa from your country of origin (if you’re coming from the US, then you need a B-1 visa). You should also bring the following documents with you when you go to the embassy or consulate: * Your resume and degree/license* A medical certificate not older than six months from a Thai hospital* 3 passport sized photos (4 x 6 cm)

Once your documents have been verified, you can file an application for a work permit with the Department of Employment at the Ministry of Labor. You will need to be present in person and sign the document in front of the Labor Department staff to get it approved.

You can only obtain a work permit when you have a valid visa and are in possession of a Thai taxpayer identification number (TIN). The TIN is used for all documentation, including work permits. You will also need it for obtaining a passport when you travel out of Thailand.

The application can take a few days to process. You will be given a notification slip with the date you can collect your work permit in Bangkok or Phuket. You will need to pick it up with your original passport in the presence of a Labor Department employee.

A Work Permit is required for all foreigners who want to work in Thailand and are not from a country where the government has agreed to exempt them. This is because of a law called the “Alien Employment Act” which prohibits unauthorized activities by foreigners.

There are a few exemptions to this requirement, but it’s always a good idea to check with the embassy in your home country.

You can also ask the company you’re working for to fill out a letter of work permit approval before you leave your country. This will allow you to get your work permit in Thailand without having to travel overseas to do so.

Once you have your work permit, it must be returned to the Ministry of Labour within seven days of your resignation from your job. If you don’t return the permit, you can face fines of up to 1,000 baht.

The Fiance Visa Process

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The fiance visa is a nonimmigrant, visa that allows foreign nationals to enter the United States in order to marry a US citizen. This type of visa is typically issued to natives of the Philippines. It is also known as a K-1 visa.

A Fiance Visa is a great option for those who want to pursue their dream of residing and working in the United States. However, it comes with some complicated requirements and can take quite a long time to complete the entire process.

First, you will have to file a petition with the U.S. Citizenship and Immigration Services (USCIS). This process can take six to nine months to complete, depending on the location of your Service Center.

Once your petition is approved, it will be transferred to the National Visa Center (NVC). The NVC will conduct background checks, which can take up to several months. Once the NVC is satisfied, it will transfer the case to the embassy or consulate that has jurisdiction over your fiance’s home country.

During this process, the embassy or consulate will send you information about the interview, including a list of documents that you must bring. The interview will take place at a US embassy or consulate in your fiance’s home country. You and your fiance will then have a formal interview with an immigration officer. If you both pass the interview, a fiance visa will be issued.

There are a number of different types of visas that you can apply for, and each one has its own unique requirements. For example, the fiance visa requires that you have met your foreign partner in person at least once within the last two years. This means that you have to have some proof of this meeting, such as pictures and travel itineraries for trips that you took together.

You may also need to have your fiance sign an affidavit of support, which is a document that guarantees that you will be able to financially support him or her in the United States. This can be difficult, but is necessary in cases where you are not earning enough money to meet the income requirement.

Next, your fiance will have to undergo a medical exam with an approved doctor. This will be part of the interview at the embassy or consulate, and it is important to have this done before your fiance can come to the United States to marry you.

Your fiance’s visa will then be stamped onto his or her passport. He or she can then enter the United States with this visa and be able to live and work in the country while waiting for the marriage to be finalized.

Once the wedding has taken place, you and your fiance can file for permanent residence in the United States using Form I-485, Adjustment of Status. This request for permanent residency will be granted if you and your fiance are eligible to receive it, which can take many years to happen.

What is a Spouse Visa?

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A Spouse Visa is an immigration visa that allows you to enter the United States with your spouse, who is also an American citizen or legal permanent resident (green card holder). This type of visa is a great way to travel with your spouse, pursue professional opportunities, access educational resources and state benefits that are only available to legal residents.

If you have been living in the United States as a lawful permanent resident or green card holder for over two years, and your spouse is not already here, you can apply for a Spouse Visa to bring them here permanently. This process is often referred to as family reunification, and it can be a very beneficial and exciting experience.

In order to obtain a Spouse Visa, you must have an established and genuine relationship with your US citizen spouse or green card holder. This must be based on marriage, and you and your spouse must have been legally married for at least one year prior to filing your application.

Before filing your spouse’s green card application, you must first complete Form I-130 and submit it to the United States Citizenship and Immigration Services; USCIS. Once USCIS approves your petition, the file is sent to the National Visa Center; NVC. The NVC will then process the file and forward it to the consulate or embassy closest to your spouse’s home.

At the embassy or consulate, your spouse will be asked to undergo an interview with US immigration officials. This can be a long process, but it is necessary for your partner to be granted their immigration visa and become a legal resident of the United States.

After their interview, your spouse will receive their Immigration Visa Number. They will then have six months to travel to the United States and wait for their Green Card to arrive in the mail.

Once they have their Green Card, they will need to apply for a Social Security Number and a Residence Permit to live in the United States. They can then travel freely, attend school and work, and enjoy all of the benefits that come with a green card.

Having an experienced immigration lawyer by your side is crucial to the success of your spouse visa application. Not only can your attorney help you avoid costly mistakes, but they can also ensure that all of the supporting documents are in order and ready to be submitted.

The most common reason that a spouse visa is denied is because the applicant failed to include sufficient documentary evidence in support of their application. The Immigration Rules are very specific and require a large amount of documentation to be submitted in support of any immigration application, including a spouse visa.

If you are unsure about the required supporting documents for your UK spouse visa, it is recommended that you seek advice from an experienced immigration attorney to ensure that all documents are in order and appropriate for your case.

Thailand Long Term Resident Visa

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The Thailand Long Term Resident Visa is a new visa designed to attract high potential foreigners who are looking to relocate to Thailand for the long term. The Thai government hopes that this scheme will bring in over 1 million eligible foreigners, who are drawn to Thailand’s low cost of living and vibrant lifestyle, while helping to stimulate overseas investment.

The LTR Visa is a 10-year, renewable visa that is designed to appeal to a wide range of high-potential foreigners who want to relocate to Thailand for the long term. It is aimed at those with high net worths, who wish to invest in the country’s economy through foreign direct investment or real estate. It is intended to attract those who would benefit from a discount on personal income tax (PIT) rates, a digital work permit and reduced requirements for hiring staff in Thailand.

Those who qualify for this visa are classified into three categories: Professionals working in targeted industries, Retirees and Investment Holders*. The first category consists of professionals or experts in target industries working for Business entities, institutions and government agencies in Thailand. The second category comprises retirees who have invested in Thai government bonds through foreign direct investment and/or have an annual income of at least USD 40,000 over the last two years, and who are receiving a pension.

In addition, applicants with an annual income of between USD 40,000 and USD 80,000 and who own intellectual property or have received “Series A” funding, can also apply for this visa. Those with a Master’s degree or above in science and technology or special expertise relevant to the job assignment in Thailand are also eligible.

Retirees

Retirees can apply for the visa if they have at least USD 500,000 in assets, including an O Bank account balance of at least USD 100,000. They must be at least 50 years old and have invested in Thai government bonds through foreign direct investments or invested in real estate in Thailand.

The requirement for evidence of minimum personal income is waived if the applicant is working in one of the target industries for 5 years. Those with an annual income of between USD 40,000 to USD 80,000 can also apply if they have a Master’s degree or above in the targeted industry or have received a PhD in the same field.

Investment holders

Those who are investors in Thailand’s economy can also apply for this visa if they have invested at least USD 500,000 through foreign direct investment or invested in real estate. They must have an annual income of at least USD 80,000 over the past two years, and their net worth must be at least USD 1 million.

These foreign investors must also have entered into an employment agreement or service agreement with domestic or international businesses and have been assigned to work in the target industries. In the case of those who work for a Thai educational institute or government sectors, the requirement for evidence of minimum personal income will be waived.